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Economy

Struggling emerging economies to double bond issuance in 2020

Central banks become buyers of last resort after coronavirus spooks investors

An employee counts Indonesia's rupiah bank notes at a currency exchange office in Jakarta on March 19.   © Reuters

TOKYO -- Emerging countries are set to issue as much as $3 trillion in new government bonds this year, nearly double the 2019 total, with central bank support that risks increasing these economies' reliance on institutions that are at least nominally independent.

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